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My 28 (Reuters) Malaysia's oil and gas producer Petronas is exploring for oil at offshore Block 52 in Suriname, which was declared commercially viable for the development of natural gas late last year following large discoveries in the area, the managing director of state company Staatsolie said on Wednesday. "We hope also to somewhere in... Continue Reading →
May 22 (oilprice.com) Brazilian President Luiz Inácio Lula da Silva has explicitly linked oil exploration and rare-earth mining to Brazil's national sovereignty, declaring that the country’s subsoil resources must be used to drive domestic industrialization rather than enrich foreign nations. Speaking at Petrobras’(NYSE:PBR) giant refinery, Refinaria de Paulínia (Replan), in São Paulo, Lula emphasized that Brazil must actively... Continue Reading →
May 22 (Reuters) Brazil's federal tax revenue surged in April, official data showed on Thursday, buoyed by higher oil-related receipts as elevated crude prices linked to the U.S.-Israel war on Iran lifted government intake under President Luiz Inacio Lula da Silva. Total revenue reached 278.823 billion reais ($55.86 billion), up 7.82% in real terms from... Continue Reading →
Rio de Janeiro, May 20, 2026 – Petróleo Brasileiro S.A. – Petrobras, announces that its Board of Directors, at a meeting held today, approved the company’s adherence to the economic subvention program for producers and importers of petroleum‑based fuels, established by Provisional Measure (MP) 1,358, dated May 13, 2026. The economic subvention established under this... Continue Reading →
May 19, (oilnow.gy) Staatsolie secured more than US$2 billion in financing in 2025 to fund its 20% participation in Suriname’s GranMorgu offshore oil development, according to Managing Director Annand Jagesar. In a message published in the company’s 2025 Annual Report released on May 15, Jagesar said Staatsolie raised US$516 million through the Staatsolie Bond 2025-2033 and secured... Continue Reading →
May 13 (Reuters) - Venezuela on Wednesday launched a restructuring of its sovereign debt and that of state oil firm PDVSA, lifting bond prices, as it seeks relief from what it called unsustainable obligations. In a statement, the government said the “comprehensive and orderly” overhaul would cover both sovereign debt and that of PDVSA and... Continue Reading →
May 11 (Reuters) - Peru's government has authorized state-run oil firm Petroperu to seek $2 billion in state-insured loans to ensure the continuity of its operations, according to an emergency decree published on Monday. Petroperu, burdened with massive debt and undergoing a fragmented restructuring process, warned last month it needed the funds to avoid halting fuel... Continue Reading →
May 7 (Reuters) - Argentina's state oil firm YPF swung to a net profit of $409 million in the first three months of 2026, reversing a net $10 million loss from a year ago, the firm said on Thursday, citing higher oil prices and more shale output. The state-run producer's revenues reached $4.95 billion during... Continue Reading →
May 4 (Reuters) - When potential providers and financiers for Venezuela's electric industry, including Siemens Energy and GE Vernova, held meetings with officials in Caracas in April, questions of how they might get paid to shore up the country's deteriorated grid were top of mind, two sources involved in the talks said. Those executives came away... Continue Reading →
April 27 (Reuters) - Gulf Cooperation Council (GCC) economies are sliding into their worst economic crisis since the pandemic, with several expected to contract this year on spillovers from the U.S.-Israel war with Iran right on its doorstep. The war's knock-on effects have ripped through the energy market – the Gulf economies' lifeline – driving... Continue Reading →
Brazil Energy Insight 